The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Respondent Corporate Debtor, FE(India) Ltd., due to its inability to liquidate outstanding dues. The Petitioner, Shakti Clearing Agency, claimed to have a long-standing business relationship with the Corporate Debtor, providing clearing agent services for the Corporate Debtor's agro-product manufacturing and supply business. The Corporate Debtor's goods were shipped and stored by the Operational Creditor at Kandla Port, Gujarat. The Operational Creditor maintained a running account for services including transportation, storage, goods handling, and service charges. Despite a payment of Rs. 5 lakhs on

The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Respondent Corporate Debtor, FE(India) Ltd., due to its inability to liquidate outstanding dues. The Petitioner, Shakti Clearing Agency, claimed to have a long-standing business relationship with the Corporate Debtor, providing clearing agent services for the Corporate Debtor's agro-product manufacturing and supply business. The Corporate Debtor's goods were shipped and stored by the Operational Creditor at Kandla Port, Gujarat. The Operational Creditor maintained a running account for services including transportation, storage, goods handling, and service charges. Despite a payment of Rs. 5 lakhs on